As aggregate interest increased, specific money managers have been driving this bullishness. Trafelet Capital, managed by Remy Trafelet, assembled the largest position in Alico, Inc. (NASDAQ:ALCO). Trafelet Capital had $13 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made a $0.3 million investment in the stock during the quarter.
Let’s now review hedge fund activity in other stocks similar to Alico, Inc. (NASDAQ:ALCO). These stocks are InterNAP Network Services (NASDAQ:INAP), Village Super Market, Inc. (NASDAQ:VLGEA), Independent Bank Corporation(MI) (NASDAQ:IBCP), and Paratek Pharmaceuticals Inc (NASDAQ:PRTK). This group of stocks’ market valuations resemble ALCO’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $67 million. That figure was $60 million in ALCO’s case. Independent Bank Corporation(MI) (NASDAQ:IBCP) is the most popular stock in this table. On the other hand Village Super Market, Inc. (NASDAQ:VLGEA) is the least popular one with only 6 bullish hedge fund positions. Alico, Inc. (NASDAQ:ALCO) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard IBCP might be a better candidate to consider a long position.